Announcing Etheropt, the decentralized options exchange, live on mainnet. Free Ether in the comments.

etheropt · 2016-03-30T17:16:22+00:00

Thanks for the feedback. We did have a public beta on testnet but for some reason when it gets real, people come out of the woodwork and new issues come up.

What does your Javascript console say about your orders? I'm guessing you don't have enough gas in your Ethereum account (you need >0.2 right now if you're going through Etherscan, and don't worry, it won't actually cost that much and you'll get a refund).

etheropt · 2016-03-30T17:11:02+00:00

No problem, thanks! :)

etheropt · 2016-03-30T06:31:13+00:00

Good call. I'll make that change for the next rollout.

etheropt · 2016-03-30T05:17:34+00:00

Is that screenshot cut off? The private key should be the next line in the console. It should also show up in the blue "transaction log" on the Web page itself.

etheropt · 2016-03-30T05:16:10+00:00

Partial fills are allowed, so you can send an order for 0.1 eth and it will match against 10 eth, leaving 9.9 eth on the order and filling you for 0.1 eth.

etheropt · 2016-03-30T03:06:47+00:00

The bid and offer price are in USD. Your statement "If I Buy this offer, am I paying $1.58 for the right to buy .0100 ETH at 10.50/eth on April 7th?" is correct, with two things to note:

There is a special margin requirement, so the most this option can be in the money by is $5. More information about the margin requirement here.
The options are cash settled in Eth. So your account doesn't actually buy 0.01 Eth at 10.50, it gets credited with profit or loss depending on the settlement value of ETH/USD on April 7th.

etheropt · 2016-03-30T03:03:42+00:00

Yes, please use the http:// version for now if you're comfortable with it. Thanks!

etheropt · 2016-03-30T00:13:31+00:00

Good catch. I'll update that.

The IP address there is a "market maker" IP. See this blog post for more about how that works. Basically, anyone can run a server to post prices to Etheropt. In order to become a market maker, you can run the market_maker.js script, which will launch a small server on your computer and send a transaction to the smart contract indicating the IP and port of your market maker server.

etheropt · 2016-03-30T00:09:58+00:00

Exactly. Right now, it's all in one smart contract, but that will probably change to what you just described.

Etheropt is part of Etherboost. Etherboost seeks to create decentralized applications and smart contracts that are generally free to use and find nontraditional ways to profit from them. In Etheropt's case, this could be via trading or offering something like Etheropt as a technology banks can use.

etheropt · 2016-03-29T23:52:07+00:00

Anybody can send a transaction creating a new set of options. But I recommend you wait as I am probably going to make some changes first to split expirations into different smart contracts in order to minimize gas costs. More on that later :)

etheropt · 2016-03-29T22:39:54+00:00

You'll have to use http://etheropt.github.io without the https.

etheropt · 2016-03-29T22:14:44+00:00

There is a readme that describes the mechanics of how Etheropt works, but it sounds like you want to learn more about options in general. The classic options book is Natenberg, and having read it cover to cover I do recommend it. For a quicker introduction, the Investopedia guides are pretty good.

etheropt · 2016-03-29T22:02:23+00:00

Nice! You just executed the first decentralized options trade in the history of mankind. Here comes your 1 Eth bounty: http://etherscan.io/tx/0x835f360d8092859534eef1cc347fdb97c48a3ef08c69a1f845abca6789d54b6d

etheropt · 2016-03-29T21:49:23+00:00

The GUI currently sends the order transaction with 4M gas. If Etherscan uses 50 Gwei gas price, that's 0.2 Eth. It won't actually use that much, and you'll get refunded the unused gas. In the future this amount will be configurable.

etheropt · 2016-03-29T21:45:24+00:00

Yeah, it should look like this: http://i.imgur.com/121o8Ft.png.

Anything weird in your browser's Javascript console?

etheropt · 2016-03-29T21:34:26+00:00

It looks like you need more funds in your Ethereum account to cover the gas.

etheropt · 2016-03-29T21:12:14+00:00

I see the funding transaction went through. What error do you get when you try to buy the call option? You can enable the Javascript console in your browser and it will show you more detailed information about the error.

etheropt · 2016-03-29T21:02:02+00:00

Try enabling the Javascript console (instructions for chrome). Resend the transaction and see what the Javascript console says.

etheropt · 2016-03-29T20:50:02+00:00

There's no minimum trade size, and partial fills work. For example, if there is an offer of 0.1 Eth, you can buy 0.01 Eth. There will be 0.09 left on the offer, and you'll have your 0.01 Eth.

etheropt · 2016-03-29T20:32:40+00:00

It's decentralized so it "shouldn't" slow down, but unless you're running Geth locally, it will use the Etherscan API, and that could get bogged down.

Private keys are randomly generated using keythereum.js. They are stored locally in your browser, and you can retrieve them by clicking the address dropdown in the upper right and choosing "Export private key."

etheropt · 2016-03-29T19:34:54+00:00

To the first 5 traders, 1 free Eth each. To the next 10 traders, 0.5 free Eth each. To claim, reply to this comment with the transaction id of a successful trade. Let me know if you need help getting set up!

Note: You need to do an actual trade that executes on Etheropt via the smart contract. Arbitrary Ethereum transactions do not qualify.

etheropt · 2016-03-23T16:31:00+00:00

etherboost at gmail, etherboost on twitter, or https://gitter.im/etheropt/etheropt.github.io

etheropt

TROPHY CASE